Zai Lab (NASDAQ:ZLAB) Cut to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Zai Lab (NASDAQ:ZLAB) from a buy rating to a hold rating in a research report released on Saturday, Zacks.com reports.

According to Zacks, “Zai Lab Ltd is a biopharmaceutical company. It focused on medicines for cancer, autoimmune and infectious diseases primarily in China. The company’s product pipeline consists of ZL-2306, ZL-2401, ZL-2301, ZL-3101, ZL-2302 and ZL-1101 which are in clinical stage. Zai Lab Ltd is based in Pudong, China. “

A number of other research analysts have also weighed in on ZLAB. BidaskClub lowered Zai Lab from a hold rating to a sell rating in a report on Wednesday, May 29th. Leerink Swann set a $46.00 target price on Zai Lab and gave the company a buy rating in a report on Tuesday, June 11th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $36.90.

Shares of Zai Lab stock opened at $31.47 on Friday. Zai Lab has a 52-week low of $14.29 and a 52-week high of $33.86. The stock has a market capitalization of $1.81 billion, a P/E ratio of -11.92 and a beta of 0.96.

Hedge funds have recently bought and sold shares of the business. Federated Investors Inc. PA grew its holdings in Zai Lab by 11.7% during the 1st quarter. Federated Investors Inc. PA now owns 463,755 shares of the company’s stock valued at $13,685,000 after buying an additional 48,755 shares in the last quarter. Polar Capital LLP purchased a new position in Zai Lab during the 4th quarter valued at about $3,483,000. Hudson Bay Capital Management LP grew its holdings in Zai Lab by 13.1% during the 4th quarter. Hudson Bay Capital Management LP now owns 233,575 shares of the company’s stock valued at $5,424,000 after buying an additional 27,001 shares in the last quarter. Vanguard Group Inc. purchased a new position in Zai Lab during the 3rd quarter valued at about $14,955,000. Finally, Baillie Gifford & Co. purchased a new position in Zai Lab during the 1st quarter valued at about $1,260,000. 36.39% of the stock is owned by institutional investors and hedge funds.

Zai Lab Company Profile

Zai Lab Limited, a biopharmaceutical company, engages in discovering or licensing, developing, and commercializing proprietary therapeutics that address medical needs in the fields of oncology, and autoimmune and infectious disease therapies in the People's Republic of China. Its drug candidates include ZL-2306, a poly ADP ribose polymerase 1/2 inhibitor, which is in Phase III clinical trial for the treatment of ovarian, lung, and breast cancers; ZL-2401, an antibiotic that is in Phase III clinical trial to treat ABSSSI, CABP, and UTI; FPA144, a humanized monoclonal antibody, which is in Phase I/III clinical trial to treat gastric and gastroesophageal cancer; ETX2514, a novel ß-lactamase inhibitor that is in Phase II cUTI trial for the treatment of acinetobacter baumannii; and ZL-2301, which is in Phase III clinical trial to treat HCC.

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